_____ Is How Consumers Perceive a Product Relative to the Competition

question 6

Multiple Choice

_____ is how consumers perceive a product relative to the competition.

• A)Targeting
• B)Positioning
• C)Marketing
• D)Communicating
• E)Competitive analysis

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Definitions:

Legal Tender

Any form of currency that by law must be accepted by creditors (lenders) for the settlement of a financial debt; a nation’s official currency is legal tender within its own borders.

Political Candidates

Individuals who run for office in governmental elections, seeking to hold a position within a government body.

Consumer Sovereignty

The theory that consumer preferences determine the production of goods and services, making consumers the driving force of the economy.

Fundamental Economic Question

The basic inquiries regarding how a society decides on the allocation of scarce resources to satisfy unlimited wants.